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CBS
Dec 28, 2012 7:00am PST
and nancy pelosi leading republicans mitch mcconnell and john boehner. no deal can be reached in past without their cooperation. with the meeting comes a glimmer of hope. in the past all the ifisical cliff talks meetings like this have been the least productive of all. whether he meant to or not the senate majority leader may have spoken for a nation exhausted by seemingly endless fiscal cliff negotiations. >> what's going on here? >> reporter: what indeed. president obama returned to the white house in a grim mood. he met with no congressional leaders and said nothing about his efforts to avert the fiscal cliff, talks continue between senior white house and congressional staff, but that's been true throughout this entire saga. with the deadline looming there were dire predictions. >> come the first of this year americans will have less income than they have today. >> reporter: and recriminations. >> now republicans have bent over backwards. we stepped way, way out of our comfort zone. we wanted an agreement. but we had no takers. >> reporter: the senate's top dem
CBS
Dec 31, 2012 7:00am PST
-imposed deadline to deliver a counterproposal to republican leader mitch mcconnell. >> it's now 2:00 p.m. and we've yet to receive a response to our good faith offer. >> democratic leader harry reid said the gulf over taxes was still too wide, and he indicated the white house might be tying his hands. >> i've had a number of conversations with the president, and at this stage, we're not able to make a counteroffer. >> reporter: so senator mcconnell called the vice president, who he served with in the senate for 24 years. the two men spoke several times sunday. >> i want everyone to know i'm willing to get this done, but i need a dance partner. >> reporter: democrats want to let the bush-era tax cuts expire for all household incomes over $250,000 a year. republicans would rather set the cutoff at around $500,000 or keep the tax cuts in place for everyone. the two sides are also at odds over the estate tax rate which currently stands at 35% but is set to revert to 55%. even if senate leaders do strike a deal and pass a bill today, it would still need to go up for a vote in the
CBS
Dec 28, 2012 7:00am EST
and mitch mcconnell and him. it was only a short while ago that john boehner was called a dictator. with the deadline looming the goal appears to be to shield most american taxpayers from automatic tax increase. now, the president's already agreed to raise income taxes on americans earning more than $400,000. that's up from his $250,000 goal set in the campaign, and there's also an effort to extend jobless pen fits for americans out of work for six months or more. >> major, do we have any reason to believe that this time it is different? >> well, certainly. the deadline is real. the house is coming back into session on sunday. even is going to be here either to preside over america going over the fiscal cliff or last-minute very small deal that averted for a while and leaves more negotiations for the future. >> major garrett, thank you very much. general norman schwarzkopf, commander of the coalition for the gulf war died yesterday. he tricked and outflanked saddam hussein's forces in just 101 hours. he gave this famous reply to a question about the iraqi leader. >> as far as sadda
CBS
Dec 31, 2012 7:00am EST
democrats missed a self-imposed deadline to deliver a counterproposal to mitch mcconnell. >> it's now 2:00 p.m. and we've yet to receive a response to our good-faith offer. >> he indicated the differences were too wide and he indicate thad the white house might be tying their hands. >> i've had a number of conversations with the president and at this stage we're not able to make the counteroffer. >> so senator mcconnell called the vice president who he served with in the senate for 24 years. the two men spoke several times sunday. >> i want everyone to know i'm willing to get this done, but i need a dance partner. >> reporter: democrats want to let the bush-era tax cuts expire for all household income over $250,000. republicans would rather set the cut-off at around $500,000. the estate tax rate stands at 35%. it is set to revert to 55%. at this point, many members are just hoping their leaders can come up with something if only to show that congress is competent. >> i don't think anyone here is going to benefit from a calamity happening in this country's economy. >> reporter: any agreement,
Search Results 0 to 3 of about 4